CMH to buy 13 properties from its own directors for R745m
Funding the transaction CMH will obtain a bank loan in the amount of approximately R350 million, being 47% of the purchase consideration, within 45 business days from the signature date.
They include two Mount Edgecombe rental enterprises, north of Durban, which will be purchased for a combined R165 million.
Combined Motor Holdings (CMH) is set to acquire 13 properties for the cash purchase consideration of R745 million from three of its directors and their respective family trusts.
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